From www.icaew.com: (UK context) Audit committees and internal auditors play a more crucial role in corporate governance following recent regulatory reforms and restructuring in response to high-profile corporate failures.

Increased collaboration and a healthier relationship between auditors and audit committees aim to enhance audit quality and accountability as organizations adapt to evolving expectations.

The Financial Reporting Council advocates that regulators should support responsible risk-taking rather than attempt to prevent corporate failures, advocating for a culture of courage among company directors.